Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-30
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SUPERANNUATION
Division 293
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Sustaining the superannuation contribution concession
Subdivision 293-C
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When tax is payable
Operative provisions
SECTION 293-75
293-75
General interest charge
If an amount of * assessed Division 293 tax or * shortfall interest charge on assessed Division 293 tax that you are liable to pay remains unpaid after the time by which it is due to be paid, you are liable to pay the * general interest charge on the unpaid amount for each day in the period that:
(a) begins on the day on which the amount was due to be paid; and
(b) ends on the last day on which, at the end of the day, any of the following remains unpaid:
View history note
Hide history noteIf an amount of * assessed Division 293 tax or * shortfall interest charge on assessed Division 293 tax that you are liable to pay remains unpaid after the time by which it is due to be paid, you are liable to pay the * general interest charge on the unpaid amount for each day in the period that:
(a) begins on the day on which the amount was due to be paid; and
(b) ends on the last day on which, at the end of the day, any of the following remains unpaid:
(i) the assessed Division 293 tax or the shortfall interest charge;
(ii) general interest charge on any of the assessed Division 293 tax or the shortfall interest charge.
Note 1:
The general interest charge is worked out under Part IIA of the Taxation Administration Act 1953 .
Note 2:
Shortfall interest charge is worked out under Division 280 in Schedule 1 to that Act.
Note 3:
See section 5-10 of this Act for when the amount of shortfall interest charge becomes due and payable.
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